Feb. 7 (Bloomberg) -- Petroleos de Venezuela SA didn’t
provide loan guarantees required by Brazil’s National
Development Bank for a refinery project being developed along
with Petroleo Brasileiro SA, Estado de S. Paulo reported, citing
an executive at the Brazilian state-run oil company.

Petrobras received a letter from PDVSA today saying the
Venezuelan company didn’t manage to present the guarantees for
its stake at the Pernambuco refinery project, the newspaper
said, citing Paulo Roberto Costa, refining director at the
Brazilian company. Petrobras is analyzing the document and may
respond to PDVSA in five days, Costa said, according to Estado.